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Is the Chinese currency substantially misaligned to warrant further appreciation?

Qin, Duo; He, Xinhua - 2010

This study provides quarterly time-series estimates of the misalignment in the REER of the Renminbi (RMB). The estimation is based on a commonly used economic approach, but with a wider and more up-to-date coverage of data and a more extensive use of econometric modelling techniques. Our...

Persistent link: https://www.econbiz.de/10003933930

Is the Rupee over-valued?

Bhagwati, Jaimini; Barua, Abheek; Khan, M. Shuheb - 2015

The paper's objective is to examine whether the Indian Rupee was fairly valued as of end March 2015. First, the movements of the trade weighted real effective exchange rate (REER) of the Rupee are tracked over the last ten years. Next, the underpinnings of the Harrod-Balassa-Samuelson effect,...

Persistent link: https://www.econbiz.de/10011284447

Exchange rate misalignments : historical experience of Japan, Germany, Singapore and Taiwan compared to China today

Qin, Duo; He, Xinhua; Liu, Yimeng - 2010

This is a comparative study on the historical experience of real effective exchange rate (REER) misalignment of Japanese yen, Deutsche mark, Singapore dollar and Taiwan dollar, with regard to the recent dispute over the Renminbi (RMB) valuation. Panel-based misalignment estimates of the four...

Persistent link: https://www.econbiz.de/10003990427

The optimal level of foreign reserves in Macedonia

Jovanovikj, Biljana; Andonova, Danica Unevska - 2017

During the last two decades the emerging countries have experienced an upward trend in reserve accumulation. However, high level of foreign reserve assets implies certain costs. Consequently, given the trade-off between the benefits and the costs of holding reserves, there are issues related to...

Persistent link: https://www.econbiz.de/10011717619

Safe Haven Currencies

Ranaldo, Angelo; Söderlind, Paul - Institut für Schweizerisches Bankwesen <Zürich> - 2007

We study high-frequency exchange rate movements over the sample 19932006. We document that the (Swiss) franc, euro, Japanese yen and the pound tend to appreciate against the U.S. dollar when (a) S&P has negative returns; (b) U.S. bond prices increase; and (c) when currency markets become more...

Persistent link: https://www.econbiz.de/10005858064

Energy prices and the real exchange rate of commodity-exporting countries

Dauvin, Magali - 2013

This paper investigates the relationship between energy prices and the real effective exchange rate of commodity-exporting countries. We consider two sets of countries: 10 energy-exporting and 23 non-fuel commodity-exporting countries over the period 1980-2011. Estimating a panel cointegrating...

Persistent link: https://www.econbiz.de/10010225994

Forecasting exchange rates with a large Bayesian VAR

Carriero, Andrea (contributor); … - 2008

Models based on economic theory have serious problems at forecasting exchange rates better than simple univariate driftless random walk models, especially at short horizons. Multivariate time series models suffer from the same problem. In this paper, we propose to forecast exchange rates with a...

Persistent link: https://www.econbiz.de/10003765975

Forecasting exchange rates of major currencies with long maturity forward rates

Darvas, Zsolt M.; Schepp, Zoltán - 2020

This paper presents unprecedented exchange rate forecasting results, based upon a new model that approximates the gap between the fundamental equilibrium exchange rate and the actual exchange rate with the long-maturity forward exchange rate. The theoretical derivation of our forecasting...

Persistent link: https://www.econbiz.de/10012302033

Timely measurement of real effective exchange rates

Darvas, Zsolt M. - 2021

We demonstrate that short-run real exchange effective rate changes are dominated by nominal effective exchange rate changes, while inflation rates are sticky and contribute little to short-run real exchange rate changes. These observations allow a rather accurate real-time approximation of the...

Persistent link: https://www.econbiz.de/10013184685

What can be learned about the economies of China and India from purchasing power comparisons?

Heston, Alan W. - 2008

Comparisons of India and China have been made for over 50 years. This paper focuses on purchasing power estimates in … China and India in the 2005 round of the UN International Comparison Programme (ICP) that was coordinated by the World Bank … currencies and real product per capita for 146 countries, and the results for China and India are discussed in the context of the …

Persistent link: https://www.econbiz.de/10003798394

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